Insolvency Rules 2016 – Transitional measures

Schedule 2 of the Insolvency Rules 2016 sets out many transitional measures including those affecting pre 6 April 2010 liquidations that follow administrations. This article sets out some of the transitional measures more likely to affect insolvency practitioners in early April 2017. Continue reading→

Insolvency Rules 2016 – Decisions

Understanding the new means by which decisions will be made in an insolvency situation will be vital for insolvency practitioners after 6 April 2017. No more creditors’ meetings, decision procedures instead. Continue reading→

RMCSC Index to the Insolvency Rules 2016

The RMCSC index to the Insolvency Rules 2016 is just one page long and is easier and quicker to use than the 38 page index included in the Rules themselves:- Continue reading→

Guidelines Insolvency Practitioners

RMCSC’s Insolvency Guidelines are comprehensive, electronic insolvency manuals that can be used easily by anyone involved in insolvency case work. Version 5 of the Guidelines has been updated to include the Insolvency Rules 2016. Which come into effect for all appointments after 6th April 2017. The RMCSC Guidelines Version 5 cover the main areas of […]

April 2016 CDDA changes

The legislation for reporting on the conduct of directors will change from 6 April 2016. The Insolvent Companies (Reports on Conduct of Directors) (England and Wales) Rules 2016 were laid before Parliament on 22 February 2016 and can be accessed on Reports on Conduct of Directors (PDF) The changes are not onerous but they will […]

Insolvency (Amendment) Rules 2015 and SIP 9 2015

The Insolvency (Amendment) Rules 2015 ‘the Rules’ came into force on 1 October 2015 and since 1 December 2015 the insolvency profession has had a new SIP 9 to give guidance and instruction as to how the Rules should be interpreted. Continue reading→

Updated advice for the fees estimate rules

The Insolvency (Amendments) Rules 2015 come into effect on 1 October 2015 and bring in the requirements for preparing fees estimates and details of anticipated expenses and sending this information to creditors before the basis of remuneration is approved, either by creditors or a committee. It will be very important to establish policies to ensure […]

A checklist for checklists

Since the Insolvency Rules 2016 were published and then became law in April 2017 many insolvency practitioners have bought ‘packages’ of standard documents, including template notices, checklists, letters and reports, in order to assist in achieving compliance with the new rules. Such standard documents are then applied to all aspects of insolvency administration and are […]